Digital currencies such as Bitcoin, Ethereum, Ripple, Dash and many others are taking the market at lightning speed and are benefiting the fintech technology, the financial market, and any other industry that incorporates them into their business.
As each medal has two sides, cryptocurrencies have their own shortcomings, but history teaches us that the adoption of innovative technology should take a while. The same thing mankind experienced from the discovery of plastic, to the Internet, social networks and the development of electric cars.
According to the thesis set by Chris McCann of venture-capital company Graylock Partners, came to the conclusion that the development of the crypto world is currently in the stage of development same as the Internet in 1994.
Many well-known large companies have begun to invest in cryptocurrencies and accept payment of the same. For example, billionaire and founder of Microsoft, Bill Gates has been bitterly criticized for Bitcoin in recent days, but Microsoft allows its users to pay Bitcoin for online games and applications.
Banks - brokers without which the market would not function, initially kept on the side and did not want to engage in dealings with clients who have accounts linked to cryptocurrencies because they are aware that this technology will downplay their role in the market. We recently wrote about how the central bank in India decided to completely disconnect the crypto market, while in the background launched a commission to explore the possibilities of introducing their own cryptocurrency to the market.
At the end of his research, author Chris McCan commented on his results with a cautious precaution and said that the matches exist, but it is too early to make a conclusion about whether the cryptocurrencies will indeed bring a revolution like the Internet.
We definitely hope so.
